Automotive Manufacturers: Ratings Navigator Companion

...Sector and Sub-Sectors: This report presents the key peer comparator elements observed or expected for automotive manufacturers, or original equipment manufacturers (OEMs). The automotive manufacturing sector covers companies whose primary business is the design, development and production of light vehicles including passenger cars and light commercial vehicles. Some groups also include other businesses such as heavy trucks, buses or motorcycles. However, pure heavy truck manufacturers are not covered by this report. Key Factors: The Sector Risk Profile defines and groups companies operating in the sector into a "natural rating territory" based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range. After assessing the Operating Environment, then Management and Corporate Governance, the Navigator examines four Sector-Specific factors for given rating levels. Finally, three Financial Profile...

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